Grenada and Saint Lucia energy consumers to benefit from improved delivery and greener sources

first_img Sharing is caring! Tweet Share Share NewsRegional Grenada and Saint Lucia energy consumers to benefit from improved delivery and greener sources by: – June 20, 2011center_img 16 Views   no discussions Photo credit: alum.mit.eduWASHINGTON, USA — The World Bank Board of Directors has approved two zero-interest credits for a total of US$5.6 million to help Grenada and Saint Lucia establish the Eastern Caribbean Energy Regulatory Authority (ECERA).As a regional entity, ECERA will improve electricity service delivery and diversify sources of energy generation, including renewables, benefiting electricity consumers across the Organization of Eastern Caribbean States (OECS) countries.“ECERA will maximize economies of scale among OECS participating states in establishing and operationalizing a regional policy approach for the development of the electricity sector, enable better use of scarce skilled human resources, and increase the capacity of OECS countries to implement regional arrangements for electricity supply,” said Len Ishmael, OECS director general.Demand for electricity in the OECS countries has been growing at an annual rate of 3-4 percent, driven mostly by commercial and residential sectors in tourism-led economies, while electricity prices are among the highest in the world. The high tariffs are due, in part, to the countries’ insular and small electricity systems, an almost complete dependence on diesel, as well as insufficient regulatory enforcement.In order to ensure a reliable energy supply in the OECS, regional electricity utilities need stronger and more efficient regulation to improve oversight, tame the growth of electricity costs, diversify energy supply away from fossil fuels, and attract cost-effective investments in electricity generation.“This initiative will make it easier for OECS members to provide incentives to save energy, reduce electricity costs to consumers, and, in the longer term, lower electricity price volatility by relying less on diesel,” said Françoise Clottes, World Bank director for the Caribbean.Specifically, the Eastern Caribbean Energy Regulatory Authority Program will finance the following activities:• Setting up ECERA. This includes carrying out the legal and consultative process leading to the formulation and ratification of the ECERA treaty, defining options for the ECERA self-financing mechanism, reviewing tariffs, and examining incentive mechanisms to promote renewable energy.• Making ECERA operational. This component will fund ECERA’s initial three years of operation, including day-to-day operations and execution of core regulatory tasks, such as tariff and investment plan reviews, and definition of a regional licensing framework for electricity market participants.The OECS heads of state officially endorsed the creation of ECERA at the 44th OECS Authority meeting in January 2007.The World Bank, in collaboration with the OECS Secretariat, and in consultation with a range of stakeholders, has been accompanying the governments by assessing the feasibility of ECERA and developing a comprehensive proposal.OECS member states confirmed their commitment to set up ECERA at the 49th meeting of the OECS Authority in Tortola, in May 2009. The endorsed proposal specified that ECERA is to be located in Saint Lucia.The first phase of the ECERA program will launch the process with Grenada and Saint Lucia. Other OECS members have expressed interest in joining ECERA at a later date.The two US$2.8 million zero-interest credits from the World Bank’s International Development Association (IDA) are repayable in 35 years, including a 10-year grace period.Caribbean News Now Sharelast_img read more

Men’s hockey: Luke Kunin notches second Big Ten Star of the Week award

first_imgThe former recruiting classes of former Wisconsin men’s hockey coach, Mike Eaves, are finally starting to make headlines on the biggest stage as sophomore Luke Kunin earned his second Big Ten Star of the Week honor of the season Tuesday. The award came after Kunin’s three points, two goals and one assist led the Badgers to a 7-4 win Saturday over Michigan University and an unfortunate 4-1 loss on Sunday.Men’s hockey: Badgers dominate offensively on the road, improve to 4-2The University of Wisconsin men’s hockey team impressed in upstate New York this weekend, sweeping their two-game weekend against No. Read…The sophomore has been one of the most dominant forces in the Big Ten this season, getting his first Big Ten Star of the Week award for his five-point effort in a weekend sweep of Clarkson University and St. Lawrence University. Despite an almost equally as impressive freshman campaign, Kunin has really flourished this season under the direction of new head coach Tony Granato, playing more aggressive and finishing more of his opportunities.The 15th overall pick in the 2016 early NHL Draft to the Minnesota Wild has seen stark rises in efficiency this season, going from .145 shot percentage to .186, best on the team, and currently sitting only seven goals behind his season totals from last year. While Kunin is two points behind senior Grant Besse, the sophomore is the team leader in goals at 11 and an emerging star in a program that seems to be returning to its former glory.Goldsobel: Jurusik and Kunin named top NHL draft prospects, but need to prove worthWisconsin men’s hockey is not what it once was. It seems so long ago that they were one of the NCAA’s Read…The performance and award couldn’t have come at a better time for Kunin or the team as Michigan was the first conference series for Wisconsin and, if he can produce at an all-conference level against a dominant Wolverine front, then there is no reason to expect he won’t do it against other Big Ten teams going forward.The Badgers, once again, play one of the toughest schedules in college hockey this year with three teams in conference ranked in the NCAA top 12 and all three of those teams, Ohio State University, Minnesota University and Penn State University, facing Wisconsin in the final three weekends of the year. UW will need every bit of scoring to return to the top of the conference for the first time since 2013 and Kunin is the largest part of that cog.last_img read more